| 1 |
In single entry system nominal accounts and some assets accounts balances are not available so it is not possible to prepare, |
- A. Debtors account
- B. Creditors account
- C. Trial balance
- D. Statement of affairs
|
| 2 |
Under single entery system informatoin relating to expenses must be ascertained from the analysis of. |
- A. Debtors account
- B. Creditors account
- C. Sales book
- D. Cash book
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| 3 |
Due to drawings made during the year, the closing capital will, |
- A. Increase
- B. Decrease
- C. Constant
- D. Multiply
|
| 4 |
We cannot prepare the trial balance and precise balance sheet under, |
- A. Single entry system
- B. Double entry system
- C. "a" and "b"
- D. Barter system
|
| 5 |
The closing balance of trade debtors can be located from. |
- A. Total debtors account
- B. Balance sheet
- C. Bils receivable account
- D. Cash book
|
| 6 |
Arithmetical accuracy of the books of accounts cannot be checked under. |
- A. Single Entry system
- B. Double entery system
- C. None entery system
- D. Both a and b
|
| 7 |
Single entry system is generally adopted by, |
- A. Small business concerns
- B. Large business concerns
- C. Medium business concerns
- D. All of the above
|
| 8 |
In single entry system ledger contains the accounts of, |
- A. Debtors, creditors and cash
- B. Wages and carriage
- C. Salaries and insurance
- D. Assets and liabilities
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| 9 |
Cash received from the debtors can be find out by preparing. |
- A. Debtors account
- B. Creditors account
- C. Balance sheet
- D. Trial balance
|
| 10 |
Closing capital in single entry system is calculated by preparing, |
- A. Opening statement of affairs
- B. Closing statement of affairs
- C. Opening balance sheet
- D. Closing balance sheet
|